Asian markets settled mostly lower on Wednesday as market sentiments remained weak ahead of the Fed's Beige book release. Japanese shares dropped marginally, tracking Wall Street’s negative close overnight following mixed earnings updates from the United States. Market expects the US Federal Reserve to raise interest rates by 25 basis points at its May meeting. Meanwhile, Chinese and Hong Kong shares fell despite upbeat economic data from China. Data showing that China's economy grew by a faster-than-expected 4.5 percent in the first quarter of 2023. Indonesian markets were closed for Eid-al-Fitr holiday.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,370.13 | -23.20 | -0.69 |
Hang Seng | 20,367.76 | -282.75 | -1.39 |
Jakarta Composite | -- | -- | -- |
KLSE Composite | 1,425.07 | -7.29 | -0.51 |
Nikkei 225 | 28,606.76 | -52.07 | -0.18 |
Straits Times | 3,324.05 | 14.49 | 0.44 |
KOSPI Composite | 2,575.08 | 3.99 | 0.15 |
Taiwan Weighted | 15,770.47 | -98.97 | -0.63 |
